AIG shares could be prepared for liftoff now that the insurer is almost entirely free of government ownership.

“With no remaining overhang to pressure the downside, and many investors still underweight this controversial name…we expect AIG’s stock will begin to break out of the past year’s offering-driven trading range,” said Josh Stirling, senior analyst at Bernstein Research.

AIG shares recently rose 3.7% to $34.59. The stock is up 13% since mid-November and has risen about 50% this year.

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